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Last Updated: Saturday, 15 September 2007, 12:14 GMT 13:14 UK
Brothers sell 20% of cereals firm
The family owners of a thriving cereals business founded in 1855 are giving up 20% of their stake to a multinational firm for an undisclosed sum.

Brothers Bill and David Jordan run the family's mill based in Biggleswade, in Bedfordshire's Ivel Valley.

They set up Jordans Cereals in 1971 to launch a crunchy breakfast product.

The firm, which made sales of 81m last year, has sold 20% of its shares to Associated British Foods, a company with an annual turnover of 6bn.

The brothers said they planned to keep control of the majority share but want the business to expand under the new part-ownership agreement.

George Weston, chief executive of Associated British Foods which also owns bread bakers Kingsmill, said: "Jordans is a brand positioned well to benefit from the consumer's growing desire for natural ingredients and healthy eating."

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